Windies Cricket manufactures Windies supporter jerseys. The quantity q, of these jerseys demanded weekly is related to the wholesale price per jersey p, by the following equation: ? = −0.006? + 15 The weekly total cost incurred by Windies Cricket for producing q jerseys is: ?(?) = 38? − 0.02?2 + 30,000 a. Determine an expression to represent the weekly Revenue function b. Determine an expression to represent the weekly Profit function. c. Calculate the weekly Revenue when ten dozen jerseys are produced and sold. d. Will Windies Cricket record a loss or profit if they were to produce and sell 2450 jerseys? e. If Windies Cricket wishes to maintain a total cost less than $42,000.00, what range(s) of Windies jerseys should be produced. f. Calculate the equilibrium price and quantity for Windies jerseys.
Windies Cricket manufactures Windies supporter jerseys. The quantity q, of these
jerseys demanded weekly is related to the wholesale price per jersey p, by the
following equation:
? = −0.006? + 15
The weekly total cost incurred by Windies Cricket for producing q jerseys is:
?(?) = 38? − 0.02?2 + 30,000
a. Determine an expression to represent the weekly Revenue function
b. Determine an expression to represent the weekly Profit function.
c. Calculate the weekly Revenue when ten dozen jerseys are produced and sold.
d. Will Windies Cricket record a loss or profit if they were to produce and sell 2450
jerseys?
e. If Windies Cricket wishes to maintain a total cost less than $42,000.00, what
range(s) of Windies jerseys should be produced.
f. Calculate the
Trending now
This is a popular solution!
Step by step
Solved in 8 steps
